Code Fencing Liquid

I’m writing up a style guide for our site. I have this code:

{% capture someNote %}
This is the display text
{% endcapture %}

It looks right in my editor (Visual Studio Code) but just renders as

on the live page.

And this block

{% include alerts/alert_note.html content=someNote %}

renders as HTML. Isn’t the code fencing supoose to, you know, fence the code? : )

Any ideas of how to resolve this?

Edit: I also tried wrapping it in {% raw %} {% endraw %} but got the same results.

that should work.

Do you have a link to a repo? is the page in HTML or markdown?